BVI and Dominican Republic Discuss Vision for Caribbean Economic Hub Amid Global Trade Challenges

As global supply chains continue to face mounting pressure, senior officials from the British Virgin Islands and the Dominican Republic met last week to discuss the strategic potential of establishing a regional economic hub in the Caribbean to strengthen international trade.

During a bilateral meeting on the margins of the 8th Meeting of the Forum of the Countries of Latin America and the Caribbean on Sustainable Development, held at the United Nations Economic Commission for Latin America and the Caribbean (UN ECLAC) in Santiago, Special Envoy of the British Virgin Islands Mr. Benito Wheatley and the Dominican Republic’s Vice Minister for Economic Affairs and International Cooperation, Hon. Hugo Francisco Rivera Fernández, explored opportunities for economic collaboration.

Vice Minister Rivera highlighted the Dominican Republic’s emergence as a dynamic economic player in the region, noting its expanding transportation and trade networks linking it to North America, Central and South America, and Europe. He emphasized that these existing connections could offer strategic benefits to the British Virgin Islands and other Caribbean nations looking to diversify trade and strengthen their role in global commerce.

Discussions also included plans to deepen bilateral economic relations, including a potential trade mission from the British Virgin Islands to the Dominican Republic.

“It was a pleasure to engage with Vice Minister Rivera as we continue BVI-DR discussions on economic cooperation,” said Wheatley following the meeting. “The Dominican Republic’s remarkable growth over the past decade has positioned it as a regional economic hub. As a close neighbor, the British Virgin Islands sees strong value in leveraging its international trade and transport links.”

Wheatley added that the BVI remains committed to advancing regional economic partnerships and looks forward to coordinating the first official BVI trade mission to the Dominican Republic in the near future.